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Dec 11, 2012
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berlusconi has announced he's creating a new center right grouping. meanwhile, mario monti has been accused oversimplifying solutions during the fiscal crisis. carolin is joining us now from rome. do we expect more of this rhetoric today? >> oh, definitely. not just today, but specifically over two months. elections will only be held probably on february 24th. we've got about two months of the silly campaigning season to follow. so yes, as you said, the verbal exchange is definitely heating up. it started with mr. monti's response criticism coming from officials about his renewed request for the prime minister post yesterday. he said this criticism was out of place. it was offensive not just for him, but also for all of the people in italy who have the freedom to vote. this morning, he did an interview with one of the channels here in italy and he said, i don't really care about this spread because the spread is based on fraud. that's the direct translation. meanwhile, if you take a look at the spread, they are moving higher again. 4.9%. italian equit
berlusconi has announced he's creating a new center right grouping. meanwhile, mario monti has been accused oversimplifying solutions during the fiscal crisis. carolin is joining us now from rome. do we expect more of this rhetoric today? >> oh, definitely. not just today, but specifically over two months. elections will only be held probably on february 24th. we've got about two months of the silly campaigning season to follow. so yes, as you said, the verbal exchange is definitely...
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Dec 10, 2012
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berlusconi is usually telling people. they know these are just lies. >> coming back to bersani, you say that he will stick with the austerity drive. i'm wondering because marto monti's popularity has suffered over the last couple of weeks because the italian population is feeling the pain of austerity. will he have to backtrack somewhat on how harsh these austerity measures are going to be? >> the decreasing popularity of mr. monti is probably related to the fact that just in the last few weeks, people in italy had to pay for the first time a new tax on their home. obviously, particularly on the so-called first house is something that the italians were not used to in the last few years, but is something that is familiar to americans or to other people in northern europe. and, obviously, this particular time, we need to understand that the time is the time of the most severe crisis after 1930s. and we need to work in a direction where obviously we will have more taxation, but only through that direction we will get to a po
berlusconi is usually telling people. they know these are just lies. >> coming back to bersani, you say that he will stick with the austerity drive. i'm wondering because marto monti's popularity has suffered over the last couple of weeks because the italian population is feeling the pain of austerity. will he have to backtrack somewhat on how harsh these austerity measures are going to be? >> the decreasing popularity of mr. monti is probably related to the fact that just in the...
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Dec 7, 2012
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berlusconi's party taken back support from the current government. but could this mean the return of the former prime minister to politics. we'll get more from our correspondent. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional values during the season of audi event. >>> earthquake strikes the northeast coast of japan producing a meter high tsunami. sandy expected to make its presence felt again as november payrolls look set to fall. but bundesbank warns of an imminent recession in germany. italian president suggesting there is no political crisis this italy, trying to reassure investors after the party led by berlusconi has withdrawn support for the m
berlusconi's party taken back support from the current government. but could this mean the return of the former prime minister to politics. we'll get more from our correspondent. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪...
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Dec 10, 2012
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berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted prices and that would help lower the country's debt lead. >>> in asia, stocks touched a 16-month high and closed mostly higher on the session with good gains, as you can see, with the kospi up the most, 1.5 points. >> strong nebs out of china which suggest maybe the economy
berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him...
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Dec 28, 2012
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it's not like berlusconi has a record of fiscal spending. >> no. but i guess also the times were different. >> the times were different but the interest rate was slightly higher than it is now. but the primary surplus of the country ran over that period which was an acceptable 3% on average is already right now reached once again. so all the parameters are in the right place and the only thing the next government needs to do is actually nothing. if it does nothing, if it doesn't reverse the reforms -- >> what's interesting is what berlusconi is campaigning on is austerity. he's running on an ant anti-austerity pro eu package. while it's untenable, it does have a certain amount of certainly backtracking the fiscal returns for them. >> exactly. this property tax, i think that's a cause for concern. if you were to repeal that, the fiscal position on would be unsustainable and he would have to raise taxes elsewhere to make up for that. that would be some messy negotiations with him on a european level. markets would be very concerned already heading in
it's not like berlusconi has a record of fiscal spending. >> no. but i guess also the times were different. >> the times were different but the interest rate was slightly higher than it is now. but the primary surplus of the country ran over that period which was an acceptable 3% on average is already right now reached once again. so all the parameters are in the right place and the only thing the next government needs to do is actually nothing. if it does nothing, if it doesn't...
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that's because berlusconi. it's been said a couple things this morning, that italy is now the problem child in europe, more than greece, more than spain. but conversely, china, if gdp is coming back, they are in what many consider to be a sweet spot. >> the numbers came out saturday for china. i think italy has been remarkably good. so this was a big game changer. italy had been a part of the good story of european recovery. now it's back. >> all to monti was never intended to be there for the long term. >> sure. >> in fact, he may be leaving a month earlier than originally planned. this should not be a surprise in the larger context. while we may mention berlusconi's name right now, he's not expected to win. >> look, we knew that monti was successful. >> it may be whoever follows him is going to roll some of the gains that he's had. so-called gains. >> that's going to cause ripples here. look, on saturday night, i said, we're going to have a nice opening. china's good, people know that monti is not really goin
that's because berlusconi. it's been said a couple things this morning, that italy is now the problem child in europe, more than greece, more than spain. but conversely, china, if gdp is coming back, they are in what many consider to be a sweet spot. >> the numbers came out saturday for china. i think italy has been remarkably good. so this was a big game changer. italy had been a part of the good story of european recovery. now it's back. >> all to monti was never intended to be...
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Dec 13, 2012
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we know the sell-off that we saw on monday and the monte/berlusconi news, now berlusconi might be indicating willingness to let monti govern. the xetra dax is lower this morning. the ftse 100, too, down about 0.2% respectively. take a look at the bond curve. spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a rally. finally, let's close taking a look at the forex. euro/dollar is weaker. and it's holding just above 1.30. and the dollar/yen, this is the one sixuan mentioned to watch. heading into japanese elections, stocks outperform adding oots .1% to 83.35 this morning. >>> south korea's central bank may be worried about factors in the economy, but the
we know the sell-off that we saw on monday and the monte/berlusconi news, now berlusconi might be indicating willingness to let monti govern. the xetra dax is lower this morning. the ftse 100, too, down about 0.2% respectively. take a look at the bond curve. spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we...
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Dec 10, 2012
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berlusconi announced he would run again for prime minister. in a newspaper interview, the head of the euro bailout fund said that could mean more financial trouble ahead for italy and for the eurozone. italy has pushed through important reforms in the past year, he said. markets have honored this so far. however, they have acted with concern to the recent developments at the end of last week. u.s. ratings agency standard and poor's also expressed doubts about whether italy passed next government would remain committed to the next reforms -- italy's's next government would remain committed to the end -- italy's next government would remain committed to the reforms. >> our correspondents and does this report from the frankfurt stock exchange -- our correspondent sent us this report from the frankfurt stock exchange. >> traders have been disappointed. they have to wait another day until they get to know the outcome of the greek program. uncertainty always drags down shares, not only of traders -- if traders and investors look at greece today are
berlusconi announced he would run again for prime minister. in a newspaper interview, the head of the euro bailout fund said that could mean more financial trouble ahead for italy and for the eurozone. italy has pushed through important reforms in the past year, he said. markets have honored this so far. however, they have acted with concern to the recent developments at the end of last week. u.s. ratings agency standard and poor's also expressed doubts about whether italy passed next...
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Dec 6, 2012
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. >> the "b" word, berlusconi, incredible. see you later. if you're just joining us here is what you missed earlier this morning. >> welcome to hour three of "squawk on the street." here is what's happening so far. >> a sound fiscal position is necessary to protect the economy. >> okay. >> if we don't do that, as this economy recovers, that recovery is going to be aborted and that's going to do damage. >> 370,000, a drop of 25,000, because the 393 originally released last week was upgraded a couple of thousand. >> people are truly perplexed about what the stock is, where it got to, what do you do with it. >> so you can come up with a million reasons. it's manufacturing, well, maybe it is manufacturing, but is there really a demand question about apple's products? [ bell ringing ] >> there is a scenario says and some people believe in it, go over the cliff and if about two, three days we'll have it settled. . look if we knew that was going to happen i'd say go over the cliff. two or three days is not going to do any harm. suppose it's two or
. >> the "b" word, berlusconi, incredible. see you later. if you're just joining us here is what you missed earlier this morning. >> welcome to hour three of "squawk on the street." here is what's happening so far. >> a sound fiscal position is necessary to protect the economy. >> okay. >> if we don't do that, as this economy recovers, that recovery is going to be aborted and that's going to do damage. >> 370,000, a drop of 25,000, because...
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Dec 29, 2012
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of the year, but the eu faces problems in 2013 as well -- a new election in italy could put silvio berlusconi back in power, and france's francois hollande has to tackle urgent issues at home, so there is plenty of work for europ's firefighters next year. >> the past year, we have often brought you images of very angry protests in greece that were mostly against the harsh austerity measures imposed by the government in return for a bailout funds from lenders. >> without this, greece would certainly have gone bankrupt, but it still a long way from clear that the bailout and the reforms they are tied to will get the economy back on the road to recovery. >> meanwhile, the suffering continues for the greek people. the situation is especially dire in rural villages. >> we are on our way to a village on the border with bulgaria. most of the village's 500 inhabitants are muslim -- a minority in the orthodox christian country. the village also claims the dubious distinction of being the poorest village in greece, with an average income of roughly 6000 euros a year. >> everything is being cut. i am ge
of the year, but the eu faces problems in 2013 as well -- a new election in italy could put silvio berlusconi back in power, and france's francois hollande has to tackle urgent issues at home, so there is plenty of work for europ's firefighters next year. >> the past year, we have often brought you images of very angry protests in greece that were mostly against the harsh austerity measures imposed by the government in return for a bailout funds from lenders. >> without this, greece...
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would berlusconi actually have any chance with voters? >> the extraordinary thing is that despite his being really comprehensively discredited in the eyes of the rest of the world, a lot of italians seem prepared to fall for his charm and his promises, and he is actually on a media blitz at the moment, taking advantage of the fact that there are currently no rules since the campaign has not officially opened, restricting access to the media. so his face and words are absolutely everywhere on the television and radio and in the press, and i think he is able to appeal to italians' baser instincts, the fact that they are suffering under austerity, and that they see him as -- they associate with him a feel good spirit, although he did not actually succeed in delivering on it when he was in government. >> thank you very much for delivering on that. >> onto friday's market action. european shares gave up ground on the final trading day of the week. our correspondents and as the summary from the frankfurt stock exchange. >> hopes fading at the s
would berlusconi actually have any chance with voters? >> the extraordinary thing is that despite his being really comprehensively discredited in the eyes of the rest of the world, a lot of italians seem prepared to fall for his charm and his promises, and he is actually on a media blitz at the moment, taking advantage of the fact that there are currently no rules since the campaign has not officially opened, restricting access to the media. so his face and words are absolutely everywhere...
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technocrats stated that he plans to resign the news came hours after the country's former pm silvio berlusconi announced he is to run for office in next year's parliamentary elections on thursday barrels counties people of freedom party withdrew its support from the government he says montes a stare at the policies that harm italy and he helps to leave the country out of the financial crisis seventy six year old has already served as italy's prime minister for three separate terms is currently caught up in a number of scandals including tax fraud convictions which he is appealing add to accusations of paying for sex with an underage prostitute something he denies. nearly two hundred countries have agreed to extend the kyoto protocol a treaty that limits the greenhouse gas output of some nations and hopes of curbing global warming legally binding plan was approved by un delegates during the climate talks in doha the summit established for the first time the rich nations should move towards reimbursing poorer nations for losses due to climate change. well and president which of us as announced h
technocrats stated that he plans to resign the news came hours after the country's former pm silvio berlusconi announced he is to run for office in next year's parliamentary elections on thursday barrels counties people of freedom party withdrew its support from the government he says montes a stare at the policies that harm italy and he helps to leave the country out of the financial crisis seventy six year old has already served as italy's prime minister for three separate terms is currently...
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berlusconi said no. that was all deutsch bank's fault. at the same time the equivalent of almost a coup detate he said. it was a big lie. that's the reason why italian interest rates rose and he had to step down for wrong reasons. >> yes. >> they must be giving a way of escape for christmas in italy. >> oh, yes, yes. it never ends over there. >> thanks, michelle. happy holidays to you. >>> we'll take a look at what is moving on this shortened day. >> going to ring the closing bell, we'll chat with him about the music business. the big debate is, is there a plan c for the whole fiscal cliff issue? never mind the pundits and the jokes. plan c doesn't stand for canada. the brief outline, the choices are getting narrow and not that hard to figure out. put up what that plan c looks like. the one on the table is still the old plan a. president obama's offer to raise taxes on the top 2%, restore the bush era tax cuts for the rest of us. yes there is talk about putting in spending cuts, raising medicare eligibility and changing the inflation meas
berlusconi said no. that was all deutsch bank's fault. at the same time the equivalent of almost a coup detate he said. it was a big lie. that's the reason why italian interest rates rose and he had to step down for wrong reasons. >> yes. >> they must be giving a way of escape for christmas in italy. >> oh, yes, yes. it never ends over there. >> thanks, michelle. happy holidays to you. >>> we'll take a look at what is moving on this shortened day. >> going...
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things are going the politicians have already started the finger pointing of just who is to blame silvio berlusconi in italy saying little he's going to run again to be the leader of the country and he's pointed a finger squarely towards germany where i am right now saying that it's up to berlin to recognize the european central bank as a real central bank in his words otherwise swell countries like italy are going to have to pull out of the euro zone in fact well there are those here in germany that would say that it's well germany that has to pull out of the year or so of this going on as we look towards twenty thirteen and that difficult task of trying to solve the eurozone and the european union's crippling financial problems. well a few minutes time we'll take you want to tour of sochi as the black sea resort city prepares for the twenty fourteen winter olympic games to stay with us. to least be told language to. close those programs and documentaries in arabic it's all here on the t.v. reporting from the world's hot spots the v.o.i.p. interviews intriguing story for use. in trying. to find ou
things are going the politicians have already started the finger pointing of just who is to blame silvio berlusconi in italy saying little he's going to run again to be the leader of the country and he's pointed a finger squarely towards germany where i am right now saying that it's up to berlin to recognize the european central bank as a real central bank in his words otherwise swell countries like italy are going to have to pull out of the euro zone in fact well there are those here in...
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things are going the politicians have already started the finger pointing of just who is to blame silvio berlusconi in italy saying that well he's going to run against to be the leader of the country and he's pointed a finger squarely towards germany where i am right now saying that it's up to berlin to recognize the european central bank as a real central bank in his words otherwise well countries like italy are going to have to pull out of the euro zone in fact well there are those here in germany that would say that it's germany that has to pull out of the year or so if this is going on as we look towards twenty thirteen and that difficult task of trying to solve the eurozone and the european union's crippling financial problems. and its financial troubles that have increased the calls from spain's wealthiest region cuts alone here to break away from central government madrid however has stressed it has the legal power to stop it from even holding a referendum on independence the warning came hours before the region's pro separatist parliamentary majority signed an agreement calling for a public
things are going the politicians have already started the finger pointing of just who is to blame silvio berlusconi in italy saying that well he's going to run against to be the leader of the country and he's pointed a finger squarely towards germany where i am right now saying that it's up to berlin to recognize the european central bank as a real central bank in his words otherwise well countries like italy are going to have to pull out of the euro zone in fact well there are those here in...
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things are going the politicians have already started the finger pointing of just who's to blame silvio berlusconi in italy saying little he's going to run against to be the leader of the country and he's pointed a finger squarely towards germany where i am right now saying that it's up to berlin to recognize the european central bank as a real central bank in his words otherwise swell countries like italy are going to have to pull out of the euro zone in fact well there are those here in germany that would say that it's germany that has to pull out of the year is this going on as we look towards twenty thirteen and that difficult task of trying to solve the eurozone and the european union's crippling financial problems. it's a story we're following along as well as want to get more background about it also with. that independent panel is concluded its investigation into september's deadly attack on the u.s. consulate in benghazi it claimed systematic failures at the state department will be behind the security breaches. by state hillary clinton. also online as well. if they do move to russia sayi
things are going the politicians have already started the finger pointing of just who's to blame silvio berlusconi in italy saying little he's going to run against to be the leader of the country and he's pointed a finger squarely towards germany where i am right now saying that it's up to berlin to recognize the european central bank as a real central bank in his words otherwise swell countries like italy are going to have to pull out of the euro zone in fact well there are those here in...
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Dec 12, 2012
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berlusconi and mr. monty. he agrees with mr. berlusconi on one thing. he says spreads are all just based on speculation. >> translator: the spread is completely detached from the real economy. the spread is mental hallucination created by speculation in the banking sector because half of the italian debt is owned by foreign banks. these banks try to get high rate in order to earn more. so we are a victim of banking speculation, of both foreign and domestic banks. we shall detach from the real economy. we need to stop this vicious cycle of debt that is strangling us. >> reporter: many would argue it's the right time for mario monty to leave the political scene. would you agree? >> translator: he needs to disappear. he was, as the americans say, a bluff, a bubble, a bankruptcy curator. our country went bankrupt last year. half of the debt was in french and german banks. had we gone bankrupt last year, europe would have ended. so they sent in monty to manage the situation in order for the german and french banks to get their money back. the ucb printed out
berlusconi and mr. monty. he agrees with mr. berlusconi on one thing. he says spreads are all just based on speculation. >> translator: the spread is completely detached from the real economy. the spread is mental hallucination created by speculation in the banking sector because half of the italian debt is owned by foreign banks. these banks try to get high rate in order to earn more. so we are a victim of banking speculation, of both foreign and domestic banks. we shall detach from the...
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Dec 27, 2012
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one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the election result in february will be a less strong coalition to enact reform, which is clearly where we hope they will go as in keeping -- trying to keep the investor sentiment going. in rome, they actually auctioned 12 euros of bills. all the politics with berlusconi not really affecting the market. yields are low, confidence still in there. some italian banks rose on the back of that. not huge moves. you can see bpms, up 2.2%. in the center of europe where it was concentrated, other banks moved higher. i'll show you those, lloyds, in the netherlands. and one is a bank here. a tragedy really in spain. essentially 350,000 small shareholders you could argue, were conned to buying the bankia stock when the government owned it last year. they had products based on subordinate debt. we learned the bank's net worth is minus
one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the election result in february will be a less strong coalition to enact reform, which is clearly where we hope they will go as in keeping -- trying to keep the investor sentiment going. in rome, they actually auctioned 12 euros of bills. all the politics with berlusconi not...
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but, okay, sometimes there are some comeback kids and berlusconi could be one of them. he did say that if monti would stand, he would resolve his claim to anything, but he wanted to prevent a shift to the left in italy. that's something angela merkel could support. although she might have to face her own transition to the left as we face elections in september. it's hoped mario monti would stand again and would stay in place because clearly that was the sort of work in progress that worked well. down with the euro and italy has to walk its own way. that is not something that we would like to hear in the eu eurozone or in berlin. >> silvia, thank you so much for your time. >>> now, a weak ahead of the person of the year, the winner, north korean leader kim jong un. the magazine didn't admit that various online campaigns were at work to influence the vote. not necessarily a legitimate tell on who readers would like to see as person of the year. so we're going to cast our own poll on "worldwide exchange." who is your pick for person of the year? e-mails us here, tweet us.
but, okay, sometimes there are some comeback kids and berlusconi could be one of them. he did say that if monti would stand, he would resolve his claim to anything, but he wanted to prevent a shift to the left in italy. that's something angela merkel could support. although she might have to face her own transition to the left as we face elections in september. it's hoped mario monti would stand again and would stay in place because clearly that was the sort of work in progress that worked...
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Dec 11, 2012
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sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so many basis points above the germans on their hourly bulletins. that was one of the reasons why at the height of it berlusconi was kicked out of power. he's saying now this is a total calm. italians essentially should ignore it. he said the spread is a con. back to you, carl. >> he is back. silvio is back. >>> as we head into the final fomc meeting of 2012 fed policymakers have traders on edge. want to get to rick santelli on that in chicago. >> i'm on edge, all right. let's do a summary before i bring my guest and friend art nolan in. december 5th you hav
sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are...
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sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at european bourses, if that's possible, down near the ftse mib, this is the one selling off somewhere in the range of 3.5% yesterday. today it's adding about .8%. in spain, showing a nice rebound. same attitude listing peripheral debt. we can take a look there. italy and spain seeing prices rise, yields falling to 4.75% and 5.75% respectively. is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could put neighboring pressure on spain. the main thing to keep an eye on here is whether spain comes back into the markets cross hairs. we saw today an auction go up reasonably well. we're looking for the country still needing to raise
sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at european bourses, if that's possible, down near the ftse mib, this is the one selling off somewhere in the range of 3.5% yesterday. today it's adding about .8%. in spain, showing a nice rebound. same...
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Dec 17, 2012
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berlusconi's third marriage provided he can reach divorce arrangements from his current wife. >>> now as investors prepared to head home for the long christmas holiday, we're taking a look at what is in store. a slow grind to recession, that man is david evans, chief financial economist at jeffries. thanks for joining us. when do we come out of recession in europe? >> the uk at the moment is showing clear signs of recovery. i think if we can through the first quarter of nkts year, it all will be recovering. i don't care expect this to be a real turn until the second half. as we go into the second half of next year, it will become clearer. even the eurozone is recovering. within that, you'll have very much the laggards. france won't do particularly well, but germany and italy maybe next year have a potential surprise on the upside. >> how much of a surprise? >> it will not be a fast recovery. the ecb will be forced to do more, but they'll be drald dragged into it. so things will have to get worse before they act. so i don't really think -- >> what more actions? they have a t program wa
berlusconi's third marriage provided he can reach divorce arrangements from his current wife. >>> now as investors prepared to head home for the long christmas holiday, we're taking a look at what is in store. a slow grind to recession, that man is david evans, chief financial economist at jeffries. thanks for joining us. when do we come out of recession in europe? >> the uk at the moment is showing clear signs of recovery. i think if we can through the first quarter of nkts...
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Dec 7, 2012
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that is a promise made by berlusconi. that is good news because as far as barclays capital is concerned it doesn't matter for the markets. what you really need is a stable government and saying to the opposition, look, if do you empower, make it clear you're going to come through with reforms that are already on the table. in that environment, the fact that we're not going to have a disorderly dissolution in italy, you've seen the yields, in fact, fall on the italian debt. so after yesterday, the yields spike. in other words, the bond market is rising and a little bit more. >> do you think there's as th ce he runs again, berlusconi? >> probably not. the reason he did that, withdrew his support is -- the expectations is not that he'd run, but who knows. the man is a dash the m-- the m character. >> yes, he is. have a great weekend. sharon epperson is live at the nymex. good morning, sharon. >> good morning, carl. it was fast and dramatic, particularly in the gold market where we saw a big selloff in gold initially on what
that is a promise made by berlusconi. that is good news because as far as barclays capital is concerned it doesn't matter for the markets. what you really need is a stable government and saying to the opposition, look, if do you empower, make it clear you're going to come through with reforms that are already on the table. in that environment, the fact that we're not going to have a disorderly dissolution in italy, you've seen the yields, in fact, fall on the italian debt. so after yesterday,...
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Dec 19, 2012
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. >> did you see the -- berlusconi saying that italy might have to leave the euro -- i love this guy. and -- >> joe, i'll tell you, he has a point. a lot of people say if italy wasn't in the eurozone now, if you were to analyze the italian economy, current account surplus or ability to get there, it's competitiveness, that actually it would be in a decent position on its own. you know, that's a counter factual that may not be worth exploring. although berlusconi's clearly exploiting that perception. >> if germany doesn't agree to have -- to be a real central bank. he's looking good, 76. he's going to run again. his hair is jet black. and i think he's still -- >> i'm sure it's natural. >> you want to avoid him if you can. like -- keep your distance if you would. >> no, i don't have to -- joe, he's engaged now. he has another -- a new wife. >> i didn't realize that. then definitely. >> yes. i'm devastated -- >> the world's women are safe now. he's engaged. now, in february, there's another election. this is what i love -- he's way behind the leading party which has 30%. the leading part
. >> did you see the -- berlusconi saying that italy might have to leave the euro -- i love this guy. and -- >> joe, i'll tell you, he has a point. a lot of people say if italy wasn't in the eurozone now, if you were to analyze the italian economy, current account surplus or ability to get there, it's competitiveness, that actually it would be in a decent position on its own. you know, that's a counter factual that may not be worth exploring. although berlusconi's clearly exploiting...
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Dec 19, 2012
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that clearing the way for a potential return to politics of silvio berlusconi. again, not clear exactly why the post there has -- there's been a postponement of the end of the year press conference. that is the case as we are learning this morning. >>> moving on to shares in ubs which are at the top of the smi in zurich after the bank announced a settlement with u.s., u.k., and swiss regulators over its role in the libor fixing scandal. ubs will pay a total fine of $1.5 billion after admitting to manipulating the rate. as well as pleading guilty to charges of fraud and bribing brokers. the swiss bank says the fine will lead to a greater than expected fourth quarter loss. but that it will not need to raise new capital. carolyn, the response here by shares positive leading, in fact, the borce as we see it. >> ubs is the better performer on the smi, up by 2.3%. yes, the story, you know, has leaked over the last couple of days. we thought the loss would be bigger. maybe -- or the fine, rather, would be about $1.6 billion. now it's only $1.5 billion. still, this is a
that clearing the way for a potential return to politics of silvio berlusconi. again, not clear exactly why the post there has -- there's been a postponement of the end of the year press conference. that is the case as we are learning this morning. >>> moving on to shares in ubs which are at the top of the smi in zurich after the bank announced a settlement with u.s., u.k., and swiss regulators over its role in the libor fixing scandal. ubs will pay a total fine of $1.5 billion after...
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former italian prime minister silvio berlusconi will run in the for office in the spring after resigning in november. not going to. interesting. lori: we'll keep an eye on that development in europe. don't forget the ecb, this is headline, saying eurozone is in for more economic woes and great are contraction. switching gears here, the concern over the u.s. fiscal cliff has you looking for a way to invest in gold there is one place you might have overlooked and that is ebay. a gold dealer has teamed up with the online retailer to give consumers an easy way to purchase gold bullion. the company's ceo michael haines joins me with more. rich souvenirs. don't turn away. how much money is actually here in gold and silver? >> just on the table right here probably about 50, 60,000. lori: only? chump change. >> annual bonus. lori: how do you know that is real? >> this is made for example, this one right here is made by the united states mint. so your government is actually making coins so that he can own bullion in your own personal investment portfolio. lori: so if an investor goes to ebay to p
former italian prime minister silvio berlusconi will run in the for office in the spring after resigning in november. not going to. interesting. lori: we'll keep an eye on that development in europe. don't forget the ecb, this is headline, saying eurozone is in for more economic woes and great are contraction. switching gears here, the concern over the u.s. fiscal cliff has you looking for a way to invest in gold there is one place you might have overlooked and that is ebay. a gold dealer has...